Questions and Answers: Godmanchester Lease Extensions

  • My wife agreed with the head landlord for a lease extension on our flat based in Godmanchester, 20.5k for another 90yrs. Can you please assist us with this situation ?
  • I bought a 2 bed flat based in Godmanchester with a leasehold unexpired of 60 years. I am curious about how much it will cost me to extend my leasehold
  • I am looking to purchase a garden flat in Godmanchester with a lease of 59 years but unsure how much it will cost me to renew so I can put in an offer given to future cost of a lease extension.
  • I invested in buying a one bedroom apartment in Godmanchester. The lease commenced in 1992 for 99 years. Now I am wanting to extend the lease. I am in the dark about additional expenses, could you tell me please how much I should expect to spend on this?
  • I am looking into the costs of carrying out a lease extension for my two bedroom second floor purpose built maisonette in Godmanchester, and would like some figures on that.
  • I am considering whether to purchase the freehold or a lease extension of my property in Godmanchester and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I plan to simultaneously get a new mortgage with Nationwide Building Society to free up equity. My adviser handling the remortgage suggested I get two quotes : one for the lease extension and one for the freehold purchase .The lease began in 1981 and since then the ground rent has been raised from £25.00 per year to £300 per year.
  • I am a FTB of a leasehold flat in Godmanchester. The lease has only 63 years outstanding and ground rent is £95. Is it possible for the seller to serve the Notice of Claim and then transfer this right to me as the buyer once I complete the buying process so that I can avoid waiting for the two year qualifying period before I can apply to for a lease extension or have to deal with all this expense later? I have read this may be possible but will it be very time costly to the flat owner? To add to the complexity it’s the case of an missing freeholder, so I am not sure how this will play out.
  • I'm intent on purchasing a flat in Godmanchester valued at £195,000 the flat has approaching seventy four years unexpired on the lease. My offer was subject to the lease being extended... .. that was back in September, hoping I'd have completed by now. They have just come back saying that they are prepared to knock £4k off if they don't have to deal with the lease extension. I'm not sure whether that's a good idea
  • We currently own a garden flat in Godmanchester and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has fivety nine years left. Not sure what to do, have read some bits on the web saying it will be 13k plus to get a lease extension. Can you offer some advice on this? Do I contact the freeholder first and will they be able to give me a cost?
  • I am currently negotiating a lease extension for my flat in Godmanchester as it is coming up to the 80 year mark. As I understood it, if you extend your lease by the 90 years available, you pay a premium (£thousands) but the ground rent is reduced to a peppercorn. I am now told that I have to continue paying ground rent. I thought the major cost of a lease extension was to compensate the freeholder as they wouldn't be collecting ground rent anymore?

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